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not government. companies work hard at fighting bacteria simply to protect their brand. competition, that fight for reputation protects us much better than government ever will. that's our show. i am john stossel. thanks for watching. captioned by, closed captioning services, inc. in four seconds . >> tont on huckabee. republicans say the president will not budge. raising tax instead of a balanced approach instead of cutting spending is wrong. >> is the president serious about avoiding the fiscal cliff allen webb resphond. >> my homeowner insurance offered me $150 what can i do with that? >> they lost the home and business and sense of security. victims of super storm sandep ho on how they are coping. >> who can throw their hate in the ring for 2016. ladies and gentlemen. our guest host tonight dana preno. [ applause ] ♪ >> welcome to huckabee. i am dana pereno and i want to thank governor huckabee to have me guest host. it is it a month since the presidential election and half of the country is elate vindicate they voted for president obama and walking on cloud 9. the other half
. bottom line, i think, it's no way to govern. it is a giant mistake to have all of this in a pool of ambiguity, and as i understand it now, you would know more. i mean, it truly is a stalemate. they are not talking. >> now, you point out that it's the same player, and, i think, you'll agree player that is matter most are the president, speaker boehner. what do we know about the personal relationship that might illuminate what's going on right now? >> well, they started out last year when they were working on the debt ceiling, and they had what are calledded the merlot and nicorette's meetings. in other words, boehner would have a merlot, and obama would chew nicorette. >> you point outside in the book somehow when they took the official photo, both of those vanished. >> yes. they had iced tea there for obama. of course, boehner had his seg represent, and they put the cigarette in the ashtray away for the picture, but they have not closed the deal on the personal relations, and that's a shame. i think if somebody, instead of sponsoring your breakfast and all, sponsor a weekly dinne
and weighing down americans of every race, creed and religion is an insat i can't believe government spending machine. they are not tackling so much what we heard in the campaign. i believe that political venge is a terrible way to leave the country and good policy and setting goals and taking bold action. anyone elected to office has a responsibility to weigh the evidence and we must hold them to the standard worthy of their office. in 2004, it was the democrats that wrung their hands. george bush had won reelection with a higher popular vote . increased republican majority in the house and senate. first time a president did that since fdr. yet the democrats won the house in 2006, presidency and house and senate in 2008. there are wild swings from one election to the next and will be again. so don't go wobbly instead go boldly forward to explain why you are right. because i believe you are. [ applause ] all right. instead of working with congress face to face to save the economy. president obama is trying to gets had way by doing what he does best. campaigning and making speeches about the f
the present has asked for, to let the tax rates go up on the top brackets, it would run the government for a limited period of time. roughly $85 billion. so the president really needs to tell us what his plan is. i'm increasingly pessimistic, not optimistic, because the president seems to be campaigning, rather than going anywhere and doing anything to get a deal. because if we don't get a deal, it will hurt a lot of people. >> are you saying that the way we're going now, we could actually go off the fiscal cliff? taxes go up on everyone. >> we don't know what the president has said he needs, because revenue is not enough to solve the problem. as you know, we have a trillion dollar annual deficit and this would not close that gap at all. so the president needs to come up with a plan and for better or worse going to require leadership. no member of the senate or the house is going to be able to do this, this is something the president has to do by himself and he can't do it on the campaign trail. >> let me ask you this because you wrote an op-ed today and you wrote about divided governm
's going to come from, how the government is going to make more money. democrats want it to come from increased tax rates on the rich, republicans would prefer to make that extra money by reforming the tax code and entitlements. bill: how is the president trying to rally the public around his ideas, peter? >> reporter: in part with a hashtag. my 2k. the white house is saying if the u.s. goes off the fiscal cliff it will cost the average middle class family $2,200 a year and they want middle class social media users, twitter users who don't want that to happen to get online right now. >> today i'm asking congress to listen to the people who sent us here to serve. i'm asking americans all across the country to make your voice heard. tell members of congress what a $2,000 tax hike would mean to you. call your members of congress. right them an email. post it on their nice book walls. you can tweet it using the hashtag, my 2k. >> reporter: as you heard at the top of the show treasury secretary timothy geithner is going to be on the hill today. one of his meetings will be with senate major
? >> reporter: let's show you some of the savings when it comes to government spending. first of all, they put about $600 billion in what the republicans are calling health savings. we understand -- we don't have details. we understand much of that comes from medicare, things that we've heard from republicans over and over like raising the eligibility age, means testing, things like that. so then we have about $600 billion in essentially spending cuts, half from mandatory spending, half from discretionary spending. this is the other very interesting thing that's new. $200 billion from revising the consumer price index. that sounds very technical. but it has very real world consequences because it very much could affect the money, the checks that social security recipients in particular get every single month because it effectively changes inflation so it changes the formula from what they would get. >> significant differences between the white house proposal on this part of the equation as well as on the tax equation. the politics behind this latest republican counterproposal, are they just go
by the difficulties put forth by government spending at the rates that they have been. so when it comes to the fiscal cliff, our young voters more than ever want to make sure that our republicans and our candidates that are putting forth the message of working together to get this problem solved. i think whether you look at this simpson bowles plan or other things, we need to make sure we're work together and putting these important issues forth. >> rick: let's talk about entitlement reform. that's another topic that's very important for republicans and they have said that the leadership in washington, they want to hear the president. they want to hear democrats talk about entitlement reform. are young republicans in favor of a partial or whole privatization of our entitlement program? would young republicans be open to the idea of privatizing social security and things like that? >> our republicans on campus have traditionally expressed support for cutting spending. they can see that the current climate that we're in of overspending and simply not having enough revenue and increasing our deficit is
hates the government? maybe singing a little different tune today. >> it's because government's now telling them stop dreaming, stop striving. we'll take care of you. >> she gets the comedians laughing... >> that's hilarious! >> ...and the thinkers thinking. >> okay, so there's wiggle-room in the ten commandments is what you're telling me. >> she's joy behar. ... and current will let me say anything. >> only on current tv. >> cenk: the middle east is on fire, of course, what else is new, right? first we start in egypt where the new president has time to give himself unchecked powers with no oversight over his additions. tens of thousands of protestors marching on the palace. they've breached blockades barbed wire and it is a mess over there. they say this is the last stand and the last warning. over in syria the government is apparently moving its chemical weapons. now, of course is a red line for nato and the u.s. and even russia is concerned about this, saying if you use chemical weapons, then the international community will have to respond. already 40,000 dead in syria. >> in ir
of them who signed the pledge they want to slink government. i listen to c-span. they're so upset about ben gauzey, which they should be upset about, they don't take into account that the state department has a shoestring budget. people are very upset about the compounding, but the f.d.a. operates on a shoestring budget because they have been shrinking government. host: so anne, do you see room for cut? caller: yes, i see room for budget cuts in the defense department. i'm a senior citizen facing retirement, and i really do believe in some means testing for social security. it's an insurance program. and there are people, you're just like with your health insurance, if you're really lucky and you've done the right things, and you're really healthy, you're not complaining that you've paid for health insurance. and then the people who need it, there's money for them. so it's the same thing. there are many people who have benefited greatly, sometimes from unfairnesses that rich people have bought for themselves and our country. but your people have benefited, and so you know why should the
>> "inside washington" is brought you in part by the american federation of government employees, proud to make america work. for more information about afge and membership, visit afge.org. >> production assistance for "inside washington" was provided by allbritton communications and politico, reporting on the legislative, executive, and political arena. >> my hope is to get this done before christmas. >> no substantive progress has been made in talks between the white house and the house. >> this week on "inside washington," heading towards the fiscal cliff. who is going to blink first? >> nobody can win everything. the republicans will have to give on revenue, democrats will have to give on entitlement reform. >> susan rice still in the bull's-eye. >> the concerns i have are greater today than before. >> lunch at the white house whitemitt. who will dare to break the no tax hike pledge? >> republicans who voted against the no tax hike pledged damage the brand for everyone else. captioned by the national captioning institute --www.ncicap.org-- >> thomas jefferson said the purpose
a divided government. it is up to us to make this divided government work. we have to set aside partisan concerns. how to work together to prepare this economy to get people back on their feet? how do we get this sense of real security and upper mobility for all americans, especially those in need? they are the same. the old ways will not do. we need new thinking and renewed efforts from all americans. it is true that president obama won reelection. i congratulate him on his victory. on january 20, he will face a a fiscal economy and and i mess. you might say he will inherit these problems. [laughter] [applause] he his second term, i hope t will offer fresh ideas. failure will mean for more years of -- four more years we have work to do. -- four more years. we have work to do. serious solutions for serious reforms, we thank him for doing that. [applause] the election did not go our way. the republican party cannot make excuses. we cannot have the next four years on the sidelines. we need to apply our timeless principles to the challenges of the day. our party excels at representing that
>> tonight, what would you do with half a billion dollars? >> should the government get out of the gambling business or are lotteries just good clean fun? >> my hope is to get this done before christmas. i'm optimistic that we can avert this crisis and sooner rather nan later. should the rich pay more? >> plus money guru dave ramsey on you and your taxes. >> you can't have one percent of the people who own and control more wealth than the other 90% of the people. >> this is piers morgan tonight. >> good evening. our big story tonight is $550 million worth big. >> none of that is tarnished the enthusiasm of those who bought tickets today. dave ramsey is the host of the dave ramsey show. welcome, dave. >> thanks. good to be with you again. >> on the face of it, a good bit of fun. one, big, winner, what is wrong with that? >> the problem is several things. rich people don't play the lottery. look who is standing in line snp it is darryl and his other brother darryl. >> there is a point to that. and i know that all statistics say they tend to be ill educated and poorer and those
strength during the olympics of course, he proved that, to really help the federal government become more efficient and more effective at setting out or meeting the commitments it makes. i think why not bring in a republican business guy to do that and there's certainly a wonderful tradition. truman brought hoover in from the cold in the 1940s and there was a man who had been villainize ed since the great depression and he ran the hoover commission. of course, fdr, the british were already in the war and he sent wendell willkie over as his personal emissary. there's a great tradition of using the person you beat if you're on the right page. >> aside from that luncheon, chris, speaker -- >> they're not there, though. they're not up to this level yet. these two fellows. i don't see it yet. >> speaker boehner continues to stamp his feet. he says treasury secretary tim geithner, with whom he met this morning, i'm quoting him, has no specific plan. but isn't speaker boehner confusing the issue here? the president has made it clear that he wants to sign a bill that's already passed the senate a
showing shelling in aleppo uploaded earlier today. in the past, the syrian government cut off access in an operation. but this is unprecedented. the military jet and two helicopters were shot down by rebels. now, takeovers at military bases given them a new arsenal of heavy weaponry. in this attack, they used rockets and as cnn's arwa damon reports, the rebels claiming this as a major victory. >> reporter: children on the back of a tractor made off with a sizable tangled lump of metal. what was all too often the cause of nightmares now a trophy of war. proudly shown off by this man. we want to take these pieces to show them to the other villages, he says. let them see what happened to these planes. everyone we speak to here describes the fear they felt any time they heard a jet overhead. for them, this is the greatest victory. one man who we spoke to said he was picking olives, saw the plane being hit and the two pilots ejecting. he says at that point everyone fanned out looking for them. he and others are telling us that one pilot was found unconscious with a head injury. video post
welker, thank you. >> thanks. good to see you, chris. >>> now from the third branch of government. we're covering the entire government today. we'll find out if the supreme court will weigh in on a pair of hi high-profile cases that would help define the rights and benefits of same-sex couples. pete williams is the justice correspondent. he joins me from outside the supreme court. good morning, pete. >> reporter: good morning, chris. we're wait to go hear whether the court will take either of these two cases. the defense of marriage act passed in 1996 by congress, signed into law by president clinton. and what it says is that for federal law purposes, marriage can exist only between a man and a woman. so that means this in the nine states where same sex marriage is legal, if a same sex couple gets married there, they're considered mayrried for state lw but not federal law and the practical consequence is they are denied about 1,000 federal benefits, tax benefits, survivors benefits, to be covered under health insurance. that sort of thing. it will have to decide whether that law is un
i think about that, why would the government want to put in place an incentive to introduce people to invest in riskier securities? dividend paying stocks are lower risk than those who are oriented toward capital gains, our shareholder base, average age 63 years old, they help buy our stock to help supplement their retirement income, their income is 77,000 a year, you say they are not subject to this cap, or half they come up with, the fact is, when you increase taxes, on growth capital, like we're talking about. we've seen since the election, a 7% reduction in asset values, stocks dropped 7 per for those people who rely on the stocks, just as they interthe retirement years that is a mistake. >> todd, maybe you can help me with this but i, always wonder, whether we're just changing our sense of perception, when i -- my first closer, my wife and i a condo we bought, i expected out landish closing costs. and they were just a little bit less out landish, they were still out landish, but since i was picturing them charging me for gdp -- >> did you make a good deal or how did you do? ne
further $200 billion by changing the way government calculates the levels for social security and medicare. humbug, indeed. that's the christmas message from speaker boehner. "hardball" with chris matthews is next. >>> in the belly of the beast. let's play "hardball." ♪ >>> good evening. i'm chris mam ewes in washington. let me start tonight with some grave robbing. we're going gown to the dark, cold tomb of the late romney campaign. we're going to excavate the murky truths that were the living heart and mind of the defeated republican effort. going to exhume tonight the guts of the thinking that went on and went so wrong. tonight, we get what we only guessed at, the results of which played out in the numbers of election night. the nasty, anti-immigrant politics, the attitude toward that 47%, the failure to turn out the white male vote, the reason romney picked ryan and the wild prelude to the clipt eastwood performance. tonight on "hardball," the dark arona of what lies now beneath the dirt so we can understand what it looks like, to think and feel your way into a historic
not be conceding that the federal government needs more money, negotiating with ourselves, and treating the president's proposal like it's serious. >> very critical of john boehner. and demint's press release aimed squarely at john boehner. $800 billion tax hike will destroy jobs, allow washington to spend more. as you all know, john boehner put an $800 billion tax hike as a center of his proposal. so john boehner got rejected from the white house, which wants another $800 billion on top of that in tax hikes and then rejected by the right wing of his own party which wants absolutely no tax hikes at all. so unlike harry reid, i actually feel genuine sympathy for john boehner. so kudos, speaker, for showing deserters or desenters who is boss. boehner stripped house members who opposed key committee assignments today. and earlier i spoke with one republican leader in the house who himself has been out of step with boehner in recent days. deputy whip congressman tom cole of oklahoma. he said the gop should agree to obama's proposal to extend bush tax rates for households that make less than
reform debate, which may be apocryphal, "keep government hands off my medicare." the big tea party uprising was in large part a reaction to the idea, quote/unquote, of socialized medicine. it was the affordable care act, and the government, quote, takeover of health care, that fanned the flames of the post-obama tea party protest. but, of course, most of the actual republicans who were actually elected back then were elected because they ran ads like this. >> congressman brad ellsworth said he would protect our seniors. but when he got to washington, congressman ellsworth voted for the largest cuts in medicare history, over $500 billion. robin carnahan supports $500 billion in medicare cuts, hurting seniors most. rand paul doesn't support higher medicare deductibles for seniors. conway distracts with negative ads to hide his support for obama care, which cuts medicare by $500 billion. >> that was 2010. fast forward to this year's election and the same principle carries through. each side tried to convince voters that the other guy wanted to take the hatchet to medicare. >> the bigg
this before. >> some republicans believe that will give them more leverage. >> it's government at the brink all the time. >> these guys are not serious about negotiating.ç >> the next 72 hours are critical. >> i think we're going over the cliff. >> let's just go over the [ bleep ] cliff. >> let's go over the cliff. >> at least for a few seconds it will feel like we're flying. >> with 26 days to go until america goes off the fiscal curb, the house of representatives chose to end their congressional business for the week today to enjoy a long weekend at home, but john boehner stayed behind and spoke by phone this afternoon to president obama. it was their first conversation in a week. also, this afternoon treasury secretary tim geithner said this on cnbc. >> when it comes to raising taxes on the wealthy, those making more than $250,000, if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> absolutely. again, there's no prospect to an agreement that doesn't involve the rates going up on the top 2%. >> "the new york times" reports that senior repu
are in congress, you will reign in spending and reform government, not raise taxes. >> they are just going right back at one another aren't they, boom, boom. these are republicans, all of the sudden just at each other's throats. republican congressman, peter king, responded. >> the fact he brought my wife into it. i don't think he has ever met me, certainly never met my wife. he better hope he doesn't. she will knock his head off. >> king also explained why norquist is wrong on substance. >> i did sign a pledge back in 1996, during the whole conflict with the clinton administration over the government shutdown. i was totally opposed to any tax increases at that time. but to say that a pledge on an issue like taxes would last for a lifetime is ridiculous. ronald reagan raised taxes a number of times because that's what he had to do to close the deal. >> when norquist started his anti-tax pledge, the deficit was $220 billion. now, it tops $1 trillion. this is a turning point for the gop or at least it could be. the other thing you need to know about is the money trail. in 2010, 66% of funding for
to help make government more efficient. there is a big debate going on about government spending, wasteful spending. maybe he will enlist mitt romney for a initiative along those lines. jon: talk about government spending, we've got that fiscal cliff coming up january 1. might this conversation somehow be used to make some progress on that? >> reporter: it could because of the fact the other person on mitt romney's schedule today is congressman paul ryan, the house budget chairman. of course was his running mate back during the campaign. paul ryan has a key role in these budget talks of course as well. where they stand, a short time ago vice president biden went to a local costco here in washington, d.c., proclaimed himself optimistic they would get a deal. the fact of the matter yesterday, erskine bowles, a key player as well, saying he is slightly pessimistic. he says there is 2/3 chance they will go off the fiscal cliff. that is not what the markets want to hear, jon. jon: not at all. ed henry at the white house. if jay carney relents and let you into the meeting give us a shot. we'll b
increase and take away any restraint on the government borrowing of new money you're looking at potential higher unemployment, that the real danger you have runaway borrowing and set up what is called a debt crisis at some point in the future. this plan or anything like it, if it is imposed january the 1st is very bad news for the economy. martha: you know, democrats say republicans, we just saw chris van hollen, representative van hollen saying come forward, republicans tell us what you would cut from spending. perhaps republicans need to come out with something equally unpassable, perhaps but as a starting point? melissa: well the republicans have proposed they will allow, they will go for some added tax revenue, get more money from wealthy people. they have already proposed that. that has been flat-out shot down with the democrats. martha: because not in form of increase in tax rates. melissa: precisely. the president insists on rearranging society, redistributing wealth. that is at the core of this plan. the republicans oppose that. they're miles apart. but you take the politics out o
't respond to, this party that has paraded around, the party that wants to rein in government spending, they are unable to identify any changes in medicare or entitlement spending which shows the tea party at its core was a phoney, phoney movement. >> joy, it's interesting to hear ron referring to august 2011 because a number of refers appear to have forgotten something happened in november 2012 called a presidential election. >> right. it was an election in which president obama, unprecedented for a democrat, actually ran on a platform of raising taxes. he said, i'm going to raise taxes on the top 2% and he was re-elected resoundingly with it. to what ron said, if it's only $14 trillion, what's the big deal, go ahead and let the rich pay it? that's number one. number two, the other thing that's been exposed and what's true, what's always been true about conservativism is that the core principle is the rich don't pay too much, they pay too little. when they say things like broaden the tax base, they think it's a moral hazard to have a progressive tax code. you want a flatter tax code f
the federal government work better. the president requested reorganization authority from the congress to do just that. >> chief strategist from the romney campaign described the way president obama won reelection . there was a time not so long ago when the problems of the democrat party was too liberal and too dependent on minorits. obama turned those problems to advantages and rode that strategy to victory. it comes six weeks after a face to face showdown on the deadly raid in the u.s. consulate in benghazi. >> you said it an act of terror. it was not a spontanous demitration. >> please proceed, governor. >> i want to make sure we get that for the record. >> and while he is in town, he will meet with congressman paul ryan. they have kept in touch and at a are catching up somewhere off cap capt hill where ryan has returned to work. >> steve: i wonder if candy crowley will be invited. >> gretchen: it is a photop. it is disappointing in the sense. if it were president bill clinton, you might think that something. ideas might be exchanged with one another. >> steve: some folks suggest that may
. jennifer >>>> it's these "talking points" that the right have about "the heavy hand of government". i want to have that conversation. let's talk about it. really. really! that you're gonna lay people off because now the government's going to help you fund your health care. really? i wanna be able to have those conversations. not just to be confrontational, but to understand what the other side is saying. and you know, i'd like to arm our viewers with the ability to argue with their conservative uncle joe over the dinner table. >> announcer: ladies and gentlemen, it's "the stephanie miller show." ♪ i'm walkin' on sunshine ♪ ♪ i'm walkin' on sunshine ♪ ♪ and it's time to feel good ♪ ♪ hey, all right now ♪ ♪ and it's time to feel good ♪ >> stephanie: it is "the stephanie miller show." welcome to it! six minutes after the hour. 1-800-steph-12. phone number toll free from anywhere. "the stephanie miller show" the web site. you can e-mail us all there. jim ward, chris lavoie, me, stephanie miller. very short to the point hate letter.
a lack of integrity just got bp suspended from new government contracts. that's the word now after the company agreed to plead guilty to charges involving its response to the catastrophe in the gulf of mexico. just in case you have forgotten, 11 men died when the deep water horizon oil rig exploded and sank two years ago. that sat off an enormous environmental disaster. today officials with the environmental protection agency barred bp from any new government contracts because of what that department called a lack of business integrity. bp executives say they are talking to the agency and working to lift the suspension. two of the company's rig supervisors and one former executive today pleaded not guilty to criminal charges related to the disaster. the supervisors are charged with manslaughter for ignoring high pressure readings before the blowout. one of them told reporters and this is a quote: i think about the tragedy of the deep water horizon every day. flu but did i not cause this tragedy. i am innocent. the trial is scheduled to start next year. egypt's president is set to
when they were threatening the government shutdown. i mean, where do you even start? >> it's an oklahoma republican, a straight party guide. this is not one of these new england republicans, you know, who's defecting and when he echoes a democratic talking point word for word like that, crystal, it seems to me that he watched this campaign. he believes that this presidential campaign and congressional campaign has taught some lessons that the republicans must now observe. >> i think that's right. i mean, the playing field is fundamentally altered. they went to every length they possibly could to keep the president from succeeding in the first term with the hope of keeping him a one-term president and that strategy failed and failed miserable bly across the board. so, he is realizes they have to reassess that strategy. they can't just be the party of no. look at chris christie, also being a champion in the wake of hurricane sandy. people don't want just knee jerk no government. they want a government that really does work. >> and a "washington post" poll showing 60% of ameri
they want to and also, let's be real, because the government encourages through the tax code. it is reported in bloomberg in 2009 households with incomes of more than $200,000 claimed almost $60 billion in charitable deductions or 20% of total charitable giving in the u.s. that year. he goes on to site one study that found charitable donations are cut almost dollar for dollar to the increase in the donor's tax bill. so that could be a $60 billion cut to charity coffers. other studies said it could be half that though still likely in many billions of dollars of cuts to charities. that is the reality behind base broadening rate lowering tax reform. not magic. more of a magic trick that leads to a distraction to distract the audience from where the increases really are. but it is tax increase. on charitable giving, buying and state and local taxes. it is a an increase on marginal rates. that's a fair argument to have but is the argument we need to be having? joining me now to have some of that argument is chris hansen president of the american cancer society. the cancer action network. thank yo
be expand in china and hire workers in china. >> when the government gives you money and attaches strings, you have to comply with the strings. when the government gives you money and is silent on something going to china you can go to china. bottom line, fm can spend the money in china. neil: if this was presented this was a possibility you think it would have been approved?ty, do you think it would have been approved? >> no, no, not by congress, and if approved by tim geithner, congress would have interceded. this is the third rail gm would use, i don't know if they are using federal dole a for gm to receive billions in taxpayer dollars or money borrowed in their name, loaned to the federal government to gm. neil: we broke all sorts of corporate law. bondholders. they move it back of the line. >> they broke, everything. >> would you pardon this phrase? they broke the law legally. meaning they persuade ad federal bankruptcy judge to disallow 200 years of precedent and twist and bend and torture statutes. the supreme court declined to get involved. i was with a member of the supreme court
was, a detailed set of reforms in health programs, government programs over ten years, which are going to be tough, but we think they make sense. they don't like all those changes, they might want to go beyond that. but they have to tell us what those things are. you're right on the revenue side. we're proposing to let the rates go back to clinton levels. that would be a good thing to do as a sensible economic policy, and we want to combine that with tax reforms that will limit deductions. there's no surprise in this. we have been proposing this for a very long time. the president campaigned on it and i think that's where we're going to end up. and i think that's there going to be very broad support from the business community and from the american people for an agreement with roughly that shape. >> when you talked about limiting the deductions there have been proposals from governor romney during the presidential campaign, and from other republicans, when you talk about those limitations on deductions, do you include the charitable deduction and the home mortgage deduction? >> i think
options will get the revenue for the government. >> in terms of getting rid of deductions or expanding the base, there's basically three approaches to we can take. one is the overall cap. capping the total amount of deductions or capping the tax value of deductions like maya and marty feld stein have put forth and the advantage to that is politically you're not actually attacking anyone -- any one specific subsidy, you're just saying we're putting a cap on the overall system. a second way is what john podesta mentioned, we are going to change specific items but wohl change them all in the same way. you're not special, we're not picking on you, so we're going to change all deductions to 18% or something like that. the third way which is probably the perfect way from the economic approach is to deal with each of these on an individual bay sess. tax expenditures generally cover an enormous range of activities whether it's ex-cluges or deductions or credits or lower rates, etc. we call them all tax expenditures but it shouldn't hide the underlying heterogeneity. so a package that went afte
the tax code, not increasing tax rates. we can address wasteful government spending that jeopardize an hour commitments in the national defense and protecting our most honorable. we can jump-start our economy by assuring americans that congress and the president can work together to get the job done and deal courageously with the pressing problems of today. when it comes to the fiscal cliff, the president and congress will either fail together or we will succeed together. there is nothing in between. i am confident that we can pass the test and do what is good and right for the american people. >> the president has been talking a lot about taxes lately, and as acpa who practiced for years and a member of ways and means committee, there is no one who likes to talk about tax more than i do. but let's be honest -- talking about taxes is not going to solve the problem that america faces. we have to turn to the spending side of the ledger. furthermore, his tax proposal will kill about 700,000 jobs and do harm to the economy, again, the wrong direction. i think house republicans have set
study notes. it actually came out before the king james version and because the government didn't authorize it, it was outlawed. but it was a bible by the people, for the people, the book that built america. and now for the first time in 400 years it's available again in a beautiful leather edition. i have one, i want you to have yours too. please visit genevabible.com and get your copy of this rare and historic version of god's word today. thank you and may god bless you. >> it is quarter past the hour. here is a look at headlines this morning. >> a lawsuit has been filed after four wounded warriors were killed during a parade in their honor. in the state of texas is train crashing into a truck that was carrying the veterans. now two of those army veterans and their wives have filed lawsuits claiming that the rail company and the truck driver were grossly negligent. politics as usual that's what watch dogs groups are saying president obama is fight will about top donors talking the fiscal cliff. yahoo and comcast among others. the groups say it's the way the president -- it's t
now on cutting government spinding, but when you ask them to identify exactly what you want to cut, you get mishmash from them. you get $100 billion in medicare savings by increasing the retirement age from 65 to 67. you get some unspecified savings from reducing social security. the only specifics if you add them up are about $300 billion or $400 billion in specific cuts, the rest are inspecific. this is the party whose fundamental premise is to cut government spending. you ask them to identify how they want to do it, and they start speaking in gibberish. it shows you this is a phony, phony movement on the part of conservatives to cut government spending. >> absolutely. ari, the president took a question on twitter this afternoon. quote, what is your opposition to taking away deductions for the 2% rather than upping the rate? seems like a reasonable compromise. his answer, not enough revenue unless you end charitable deductions. he's right, isn't he? the math doesn't add up. it didn't add up with mitt romney. it doesn't add up today. >> it doesn't add up, and those targeted revenu
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